Recommend a strategy (6 pages) for improving a total rewards package for FFH or a selected organization in order to be competitive with other employers and to positively support recruitment and retention initiatives. Introduction Search websiteswithpertinent data sources, including the following,for general salary information. Research othercareer-focused websites for benefits information. U.S. Department of Labor, Employment and Training Administration. (n.d.).O*Net online.https://www.onetonline.org/ Bureau of Labor Statistics. (n.d.).Databases, tables and calculators by subject.https://www.bls.gov/data/#employment Demonstration of Proficiency By successfully completing this assessment, you will demonstrate your proficiency in the course competenciesthrough the following assessment scoring guide criteria: Competency 1: Apply legal standards in human resource management decision making and practice.Explain what legal compliance requirementsFFH (or a selected organization) should consider whencreating a total rewards package.
Competency 2: Use data to support human resource management decision making.Analyze components to include in FFHs (or a selected organizations) total rewards package. Compare the salary and benefits components with adding an incentive compensation package.
Competency 3: Develop human resource management strategy recommendations to support organizational goals in a dynamic environment.Recommend a strategy for compensating FFHs (or a selected organizations) management.
Competency 5: Communicate human resource management needs, opportunities, and strategies with multiple stakeholders.Communicate in a manner that is professional and consistent with expectations for human resource professionals and masters-level programs.
Instructions FFH is concerned about thecompetitiveness of its total rewards package.Most store managers and supervisors have been with FFH for over 20years and have been very satisfied with their compensation.However, while interviewing prospective candidates, the company is getting indications that their total rewards package is not equal totheir competitors. You are being tasked with recommending a strategy for improving FFHs or a selected organizations total rewards package in order to increase competitiveness with other businesses and to positively support recruitment and retention initiatives. Include the following in your total rewards package strategy forHR management and organizational leaders: Analyze components to includein thetotal rewards package.This analysis should include salary and benefits as well as areas beyond compensation. Should FFH or your selected organization lead the market, pay at market rates, or lag behind the market? To move towardthe broader definition of total rewards, what two other components should be considered? Compare the salary and benefits components with adding an incentive compensation package. Is there a benefit to including a bonus, commission, or profit sharing as part of FFHs or a selected organizationstotal rewards package? Explain what legal compliance requirementsFFH or a selected organizationshould consider whencreating a total rewards package. Recommend a total rewards package strategy for FFHs or a selected organizationsmanagement. Do cultural and inclusive practices that support a diverse workforce impact your recommendations? Justify the components you are including. Your total rewards package strategy should demonstrate graduate-level writing skills through the accurate communication of thoughts that support a central idea and use of correct grammarand mechanics as expected of a human resources professional. Additional Requirements References:Support your analysis with at least two academic, scholarly, or professional resources from the Capella University Library. Format:Resources and citations are formatted according to current APA style and format. Length:Sixpages, in addition tothe references list. Font and font size:Times New Roman, 12 point. Save this activity to yourePortfoliofor future reference in the workplace.
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